Willbros Agrees To Sell U.S. Pipeline Assets To WB Pipeline Of Meridien Energy

(RTTNews) - Willbros Group, Inc. (WG) announced Friday that it has signed a definitive agreement to sell certain U.S. mainline pipeline assets to WB Pipeline, LLC, an affiliate of Meridien Energy, LLC. Assets included in the sale consists primarily of cross-country pipeline construction equipment.

After the deal, WB Pipeline, LLC will operate under the name Willbros Pipeline. Willbros revealed that some senior management, including the Oil & Gas segment President Harry New, will be joining WB Pipeline, LLC immediately; while others may join WB Pipeline, LLC once existing pipeline projects have been completed.

Funding for the deal will occur in stages throughout the first quarter of 2018.

Willbros said it will continue to serve the U.S. oil & gas industry through its Facilities, Pipeline Integrity and Lineal businesses.